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tv   The Willis Report  FOX Business  January 23, 2014 6:00pm-7:01pm EST

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i'm totally serious about this great we are going to get to see more tomorrow. brace yourselves, that is it "the willis report" is coming up next. gerri: hello, everyone, i am gerri willis. tonight on "the willis report." gerri: consumer data fast widens. over a million cards may have been stolen at neiman marcus and iconic consumer brands. these companies might not be around for much longer could leave the experts. and we have the latest research on omega-3. we are watching out for you tonight on "the willis report." ♪ ♪ ♪
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gerri: welcome to "the willis report." the data breach affecting millions of consumers in this country just keeps getting bigger. neiman marcus saying over a million of its customers have@ neiman marcus saying over a million of its customers have had their credit cards hacked. visa and mastercard say at least 24 of those hacked cards were by thieves. and the fbi is reporting warning retailers of more attacks to come. welcome to the show. it is great to have you here on the set. so now we know about more retailers in the number of folks that have been hacked. tonight the fbi, we find out has said that you need to be prepared because there are more hacks coming. what does that tell you about the severity of this crisis? >> it means that the fbi and the law-enforcement groups are really focusing on ice. the lead agency in these types of events is the secret service. but the fbi is putting out information not only to big
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retailers that the smaller ones and it tells us that it's really the small to midsize groups that are being really targeted. gerri: i have to tell you that some of the biggest retailers in the world at least in this country are not doing everything they can to protect americans. we've been talking a lot about that. the focus on who is doing the hacking. so much of this comes out of russia. cybercrimes tend to originate in russia. number one taiwan, germany, and the ukraine. why is our? >> is a poor man's key to the ball. he needs someone who can really focus on this stuff. the way that this is done is that you have people that write code. script kiddies. and then they sell the code. some of the numbers you get $6000 per program that allows you to hack into these various things. and we are being attacked all the time we talk talk to the
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secret service and fbi. gerri: some of the most sophisticated companies are being taken down by a 17-year-old hacker? >> if you take the analogy of this cooking a parking lot full of cars, that is what is happening in cyberspace all the time. they are probing continuously to see where they can get and how they can get it. and as we talked about there is no return to sender access and it's usually not the person who executes the code. therefore it's hard to say that that is the person. gerri: with a really nasty they are?
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>> and they will sayyoh, yes, we got this. they monitor a lot of different sites to see who is accessing them. and that is what they do to understand the flow of information who is receiving it. it's your cyberfootprint that they are looking for your return address as well. gerri: how safe are these payment networks? >> we need to have confidence in our economy and what now becomes is what type of protections are these companies using and will they continue to use. cybersecurity is not a destination but a journey. and i think what you're telling me is what we have is a
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long-ago. >> guest. gerri: what is your number one suggestion for consumers out there? folks are upset and i've had them say that your information has already compromised. >> i try to avoid using a debit card online. and i would moderate your credit. and find out what is happening to your credit. and watch out for the kind of e-mails that yyu get. and if it seems vague pick up the old-fashioned phone and say did you send me this e-mail? it is that kind of vigilance that we have used in our personal lives. gerri: i think that that is absolutely true. sometimes you have to just nonstop as much online and use cash when you can.
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gerri: michael, it's great to have you on the show. thank you for coming in. an ameriian family say they still feel that the personal economy is stuck in the session. >> if you look at growth in total production gdp, certainly it has recovered. and if you look at the labor market or we have seen millions of people give up working entirely and we still have a very high unemployment rate of about 15% and incomes haven't risen for those who have jobs, the labor market is in recession and that is what people see
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everyday. gerri: i get these kind of e-mails all the time. we've seen this kind of growth the last couple of years and it's still not like the official recession definition. >> i think that the key is that we are not seeing any real income. month after month we get those employment reports and they look at the number of jobs created. but most americans have a job and when you look at the hours that they get to work, when you look at the wages that they are not growing. if it's flat and it's been fun, why would you think that if anything lasker is exactly what the american worker is. gerri: i agree with that. we hear about this here and i also want to talk to you about a new report out of harvard
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university throw some water on this idea that our economy and our society is not mobile. you can't move up the ranks that economic mobility is dead. they say that it is unchanged. would he make of that? >> this is a really important study and like all important studies their attempts to shoot holes in it from all sides. fifty years of data including the mac's earnings and the bottom line is that the same chances are getting out of this as it existed 50 years ago. the only thing that has changed is that inequality is wider than most happen at the top 10, top 1%, top 5%. so for most americans it just like it used to be. and that is what we need to face
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the. gerri: it is interesting. and it seems to me that people basically are saying that there is a finite amount of money out there for income. and if the rich people take more that means that there's less per year. >> a big mistake and this is not the first time that we have seen them latch onto this idea. people can get out of poverty and other we should care about. getting people out of poverty and getting ahead.
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gerri: there has been a lot of debate about how to fix that and a lot of misguided ideas and it seems like we are spending a lot of money on it right now. peel the layers of the onion back to it over and over again. and those are the things that really propel that. >> a best the best practices that you want to finish school and get married and have kids and you have to do it in that order. gerri: it's interesting to see how much wealthier people are if they are married. >> and that is the key and the difference between poor and not poor is working and being very successful is not complicated.
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and we need to give a better environment and we need to make sure that they follow the best practice. gerri: now we not know what you think. harvard says economic mobility hasn't changed. do you agree? but on the right-hand side of the screen and i will share the results at the end of tonight's show. coming back next, the truth behind fish oil. is it is good for you as everyone says? don't go away. [ male announcer ] there is no substitute for experience.
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and roinely check certain liver tests. tell your doctor if you ha been to a region where certain fungal infections are common, and if you have had tb, hepatitis b oc, or are prone to infections. tell your doctor about all the medices you take, and if you are pregnant, or plan to be. taken twice dail xeljanz can reduce the joint pain and swelling of moderate to severe ra, even without methotrexate. ask if xeljanz is right for you. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with, it's easy to search hundreds of cards and apply online. gerri: is a too fishy to be true? a new study suggesting that omega-3's may protect the brain from shrinking and shield you
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from dementia. doctor, thank you for coming back on. so tell us about the findings of this study? >> this study seems to show that fish oil levels seems to be dorelated with a ar this over a six or or seven yeas timeframe. it seemed to suggest that their brains are shrinking less than those that doo't have the high level of the fatty acids. and i thinkf that study still needs to be done. their other studies that suggest that there may be benefits along those lines. gerri: you say you like fish oil because you actually are eating the fish in your mediterranean
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diet. when he make that choice instead of taking supplements? >> some have shown that it is better than supplements. sometimes they can be fleeting issues and sometimes natural is just better. gerri: don't i have to eat an entire segment of the benefits? >> you can eat a small piece of salmon a couple of times a week, sardines, anchovies for the omega-3 fatty acids as well in their other benefits as well. anti-inflammation has been showed to be good in the matured arthritis and probably in cardiac disease also because it lowers triglycerides. >> that seems to be the best diet for losing little a little
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weight and then also getting a great cardiovascular and if it over time. gerri: doctor, thank you for coming on. we appreciate your time. later in the show, should you be investing in the government? and deathwatch 2014. manyyiconic brands could be on their way out. find out next which brands should be afraid. i [ male announcer ] e new new york is open.
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spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inlers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostat these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. does breathing with copd weigh you down? don't wait to ask your doctor about spiriva. gerri: jc penny's blackberry. is thi
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gerri: there is an ax swinging over the heads of several brands that you know and love. some or all of them may not make it to 2015. can these companies turn it around and not only survived but thrived? karen, welcome to the show and it's great to have you here. we have a lot of brands to work through. and i want to tell me what these companies have in common. there's a lot of people out there that are going to get wrapped up in a brand. so let's start with jcpenney. what is the problem with jcpenney. >> jcpenney can't really make up their mind. i don't really think they've decided who they want the customer to be. they can even make up their name whether they are jcpenney order it is disruptive and costly and
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this has been going on for a long time. and they have to make some changes or they are in big trouble. we want you don't know what's coming up next. let's talk about quiznos. we've seen a lot of financial problems and the folks that have worked with this company. what is going on? >> quiznos came out with their point of distinction being the toasted salmon to have really doesn't mean that much. especially when the leader in the industry with subway. something that they understand what they have to do to be different.
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>> it's really difficult for situation. a lot of stores closing. let's talk about red lobster. this is my mothers favorite restaurant chain. she loves it. but she's not one of a lot of people. what is going on? >> so many choices and new concepts and exciting things and you want to enjoy your experience when you want seafood. and absolutely it is an emotional experience. it is much bigger than what they serve up on the plate.
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and red lobster, again, feels like a little bit like this. gerri: who is doing a run in a category? >> i think thinkable day continues to o things while they are rolling out new concepts to out pizza and different food categories. people like things that feel local and that are fresh and they've really done a nice job with that and i suspect that they will continue to do the same thing. gerri: volvo. >> i had not even thought about them and i bought a car recently. they have just been so quiet. he used to be the brand that now you never hear about them. and again the competition has lots of great options and they used to be known for safety and
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i think they got a couple of bad safety reports. and so i think that they tried to regain all of that. niftily slipped from the american car buyers minds. >> yes, and i think that that they are doing well in china. but all of these brands are unhealthy and hopefully none of them are looking for obamacare to find a cure. because they all have a similar. here is what kerry said he said something about them having an obituary? >> yes, they had an opportunity last year but now i just think too much time has gone by and they are in a bad place.
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>> is interesting that all of these companies, that they had a good concept initially made justin keep updating. what is that happen? why do people get so lazy? >> they are big companies. so when they tried to do change it's like moving a big tanker. and you have to innovate and be creative and you have to take some chances. all of these, i think they need to find an idea and testmarketed but with jcpenney they try to roll out the big change across all the markets. then when it didn't work they got beat up by the media on their misstep. and i think that some of them should really consider going private again. but it's a lot tougher to do things and move quickly. gerri: you have to come back and talk to us about how individuals
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can brand themselves in the job market. >> i would love to. gerri: thank you. goodbye. gerri: coming up, which smart phone plan is best for all of you out there? and the treasury department unveiling a new bond. you'll want to hear about that coming up next after the break. [ me announcer this is the story of the dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o believed they had the power to do more. ell is honored to be part of some of the world'great stories. that began much the same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪
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gerri: it's super cold out there. well, a brand new innervement opportunity for small investors. the treasury department announcing a new security for the first time in 17 years. but some critics worry it could end up being a bad deal for taxpayers. fox business senior washington correspondent peter barns joins us with the latest. peter, thank you for being
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here. >> that's right. it's a floating interest rate treasury security. it go on sale for the first time next wednesday. now, right now if you buy a treasury bond or bill or note, you buy it with a fixed rate of interest. but the treasury wants to give a floating right security a try, floating rate investment from banks, for example, increasingly popular as a hedge against rising interest rate. they expect rates to head higher as the economy improves and the fed raises rates. remember, if you have a bond with a fixed rate. the bonds' value falls as rates rise because investors pay less with a lower bond with a lower rate. next wednesday they will auction off $15 billion two-year floating rate treasury notes. it will be pegged to the yield on the 13-week treasury bill which is a currently a little less than than a tenth of one 1%. the rate will be adjusted quarterly. you can buy in minimum of $100.
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not everyone is welcoming this change. a duke university finance professor first pushed the idea in the early 1990s. when a rates were falling he worries that today this could end up increasing the government's interest rate expenses, which totaled more than $200 billion last year. >> if you go to floating rate notes, you at risk, the government is at risk of having to pay out more in terms of the floating coupon as the interest rates rise. and people generally believe that we're in a rising interest rate environment. the rate today is still historically very low. >> and so cam harvey said he wants treasury instead to lock in these low rates on behalf of taxpayers by issuing more long-term 10, 30 year bonds at fixed rates. treasury said it's starting to lock more of the lower rates in
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with longer maturity bonds. it wanted to do this floating rate note to diversify the offering, and it hopes to attract more investors to u.s. debt security, gerri. gerri: any other response to this criticism? i can certainly understand that a lot of people out there would think this is a big hurt for tax pay piers. >> it could be, yeah. but treasury said that right now this new floating rate note will not increase interest costs because it will sell $15 billion in these new notes instead of $15 billion in 13-week t bills. and they're both at the same rate. in theory the interest payments will be the same. cam harvey's concern it's the tip of the iceberg. the treasury will sell longer term security at floating rate instead of fixed. that idea is floating around -- [laughter] butttreasury said it's they're not committed to doing it right now. at least now for now. so, we'll see. gerri: peter, great report.
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interesting stuff. thank you for coming on. >> thank you, gerri. gerri: well, joining me me with advice for the wallet is kyle harrington. it's good to see you. >> thank you, gerri. gerri: i'm wondering if it's a good thing to buy. is it good for small investors? >> you know, gerri. i actually think not. i have not been a big proponent of the fixed-income market for obvious reasons. right, gerri. the interest rates are just simply not that attractive for the smaller investor, in my opinion. i think we need to be diversified in our portfolio. and fixed income obviously comes to mind when you think of equities and other instrument to have a diversified portfolio. for the smaller investor, the floating rate difference, i don't think, makes a huge difference.
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i think the government's attempt here is to provide a little bit more attractiveness to the institutional community. the bigger buyer where five or ten basis points difference does make a difference in the rate of return of portfolios. gerri: they are really going for the pros. and they really -- they really are trying to grab the attention of the professional investors. thank you very much. it occurs to me within 17 years ago that the fed launched inflation protected securities? what was the last new product? how is it done? because my understanding is that some of that stuff is supposed to protect you from inflaaion hasn't been that valuable. >> no, with i don't disagree with you. keep in mind, $15 billion, i think this is obviously a test market-type of example for the government. it's not that much money in terms of, you know, auctioning off treasuries. they're definitely testing the marketplace but, you know, the exposure, you know, and is with the u.s. government and the
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taxpayer we already are carrying an amazing amount of debt, gerri. we all know that to the tune of $16 trillion. so therate -- gerri: i think -- my friend -- >> excuse me. it goes up by the hour. gerri: 17. >> but, you know, the exposure can be if interest rates rise, too, you know, the united states government. yields have nowhere to go but up. when they go up -- the person on with me -- or with you before said there is, you know, exposure to the u.s. government. that is the case. and bond values go down as rates go up. gerri: all right. given all of this that we've talking about. >> yes. gerri: given this, what do you tell individual investors to go about the bond portion of their portfolio. >> that's a good question. i think that the -- there's ways to address the fixed-income marketplace inspect is one way. municipal bonds, corporate bonds, you know, i like to look
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at -- i think the real estate market is in a position where it is starting to come back a bit. so there are publicly traded -- gerri, as you know. privately held significantly more yield than what we're talking about right now. there's liquidity issues associated with that. but i think there are other areas in the fixed income market, like i mentioned, that provide more attractive yield if in fact that's what you're after. and the fixed income portion of your portfolio can be crazied in that way gerri: it's interesting. treasury is at it again. they're going to vined a new way to keep us happy, i guess. thank you for coming on the show, kyle. great to see you. time for a look at the -tories on fox a down day on wall street as more disappointing earnings is forecast and stocks plunging. the dow dropped nearly 200
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points. investors worried about a manufacturing slow down in china. they are visiting mcdonalds fell nearly 1.5%. and expect the downward trend to continue throughout the years. sales of existing home edging up slightly in december making 2013 the best year for housing since 2006. the national association of realtors says sales increased to an annual rate of nearly $5 million. sales did start slowing in the second half of the year due to higher mortgage rates. and toyota is the top auto maker in the world for the second year in the world beating general -- general motors. toyota sold around 10 million vehicles last year. up 2% from last year. those are some of the hot stories right now. on fox when we come back are fans getting screwed when it comes to
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super bowl tickets? we'll explain. more data on smartphones and tablets. which plan is best for you? stay with us. ♪ ♪
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consumers are data hungry. consuming more than ever with the smartphones and tablets. here with ways to pick the best data plan for you. the ceo and founder of green toe website. a website naming your own price for an item. joe, thank you for coming on the show. apparently the iphone 5s is the big one when comes to eating up data. why is that? >> certainly people are using apps that are requiring much more data usage. apps -- sites like youtube, pandora, i heart radio, netflix.
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gerri: is that why the iphone 5s is a d.a. data hog. >> yes it's set up to use the apps. it's using more d.a. gerri: so what is the best data plan, in your view, for folks out there? in terms of price. >> it depends. in terms of price, if you're using a lot of data you are probably better off with t-mobile or sprint. they have aggressive pricing. somewhere around $70 to $80 a month for fully unlimited data. at&t and verizon are little bit more pricey. you have to check and see what kind of data you are using. if you are using more than a gigabyte i recommend t-mobile or sprint. gerri: you have great tips and tricks for folks to reduce data. starting with use wi-fi. what do you mean? >> you want to make sure you are
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logged in to the wi-fi even at home or out about. whenever you can get on the wi-fi you save a lot of money. make sure your phone is set up to automatically join the wireless network and make sure the wireless router is -- if you are use the data through the wi-fi you not get charged as over the air time on the phone. gerri: isn't that dangerous if i'm constantly logged in? >> i don't think it's dangerous especially if you are at your home or office and you control the network. make sure your network is secure and password-protected. gerri: okay. you log out of apps that update automatically. they just use the juice; right? >> yeah. that's an important one. many people don't realize that facebook, for example, they think you're actually using it when you're using it and looking at pictures and getting updates. facebook is constantly updating your phone even when you're not using it. the only way to stop it is log out of the app. i recommend especially on a
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nightly basis log back at night and log back in the morning. it's a hassle. >> how do u yo know which use the most juice? >> anything that streaming video or songs you're looking at, you know, pandora. pandora is probably one of the biggest users of data. netflix watching movie or tv shows. you're using a lot of data. i heart radio, and of course, youtube. gerri: and you say if you're going change plans, change in the middle of the billing cycle. why? >> yeah. so this is another great trick or tip. what you want to do -- the companies allow you to change plan mid cycle. make sure you know the billing cycle. it could be one day. they let you back date to a new plan. you can check your data. some companies like verizon allow you to type in pound data and send you an update. if you feellike you're above the
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threshold. give them a call and they'll upgrade you. they'll let you go back to a lower level for the next month. you want to make sure you're in a position to go back -- back d.a. for lack of a better word. gerri: we appreciate your help, joe. thank you for coming on the show. still to come, an uproar against the nfl for not providing enough super bowl tickets directly to fans. we'll have details after the break. ♪
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super boil tickets are going through the roof. one lawsuit claims it's illegal. ♪
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♪ it is the nfl breaking the law? that's the story we've told you about not too long ago. a new jersey man claims the league is pricing average fans out of the super bowl which files against the law in that the state. the attorney joins me with the latest in the case. so josh finkleman told me it's unfair. >> he says they violated new jersey law. new jersey has the most protective statute in the country when it comes to selling tickets. gerri: tell me how it works. >> it's simple. the new jersey law says if you're going hold an event in new jersey you have to sell 95% to the public. they violate the law, they pushed the tickets to the secondary market, and the average joe is forced to pay five, 10, 20 times the face value. gerri: what happens is a lot of corporate and friends and all get the tickets. they all go.
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>> of course. gerri: somebody who is a super duper football fan out there doesn't have a high likelihood of going. >> the likelihood they el -- sell 1% to the public. gerri: how many? >> about 78,000 available. there's 1,000 made public at this point through a lottery system. the average joe has the same chance to get a ticket as you would to get the golden certificate on willie won can. it doesn't exist. gerri: every super bowl ticket costs $43 00. >> and going up. >> do you think people running the thing have any new jersey that had the special law? >> i'm sure they did. gerri: but they just ignored it, you think. >> didn't they? gerri: i don't know. i'm asking you. >> the statute is very clear. our lawmakers passed this act about ten years ago. they did it to prevent exactly what is going on now. which is the funneling of tickets to major events in to the secondary market where other
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people would profit. in this case, in this case, you have some of the leading sellers in the secondary market, the leading ticket broker in the country is on the nfl website. so they route you to his site to buy the tickets. gerri: what would if you win. you said you wanted to win. if you did, though, it would change the way the tickets are dolled out. it would be a different world. >> i'm not exactly sure, gerri. it applies to new jersey. we're the only state in the country that has the protection. gerri: if they have a certain event in mind? >> it was a rampant abuse in new jersey. it was a rampant abuse in the country. our lawmakers did something about it. gerri: what is the nfl saying? >> we're waiting to see. they issued a series of press releases saying we have done this way all along. i said fine, they're not in new jersey. gerri: we're not making a lot of money and how do you respond? >> it's easy.
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they do two things. they allow a secondary marketeer to sell through the website, number one..@ and a lot tickets to the various teams who then have contracts to resell those tickets at enormous profits to the secondary market. who mark it is up even more. everybody is profiting enormously by this violation. gerri: thank you for coming on. come back when you win. >> i will. [laughter] gerri: appreciate your time. fans aren't the only ones shelling out of money for the super bowl. which is expected to be the most expensive. companies shell out millions for a chance to show a commercial. who are the usual suspects? that list is in the top five. number five coca-cola. they spent more than $62 million on super bowl ads between 2009 and 2013. they often win the connate for cute with the adorable polar bears. number four chrysler. they made an appearance in four of the last five super bowls.
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spending more than 64 million. the big god made of armor was one of the most talked about. number three, hundai. over the last five years it spent more than $67 million and expected to go bigger this year in listing celebrities for the first time. number two pepsi. in addition to preferring game w they sponsors the halftime show. not bad for an $97 million tab. the number one is an highser bush. it's all about the beer. they spent more than $146 million. the company often has the most talked about ads from the frogs to the guy screaming "what's up" last year they tugged at the heart strings with the collides dale commercials. i love them! i can't wait to see what they do next year. we'll be right back with our two cents more and question of the day. economic mobility hasn't changed
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in the u.s., says a harvard study. do you agree? ♪
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economic mobility the chance to climb out of the class you were born in to hasn't changed in this country in 50 years. now that is according to a new comprehensive study by harvard university. but do you agree? we asked the question on be sure to log on for the online question every weekday. we to want to read some of your e-mails. mike writes, gerri, i like your show. keep up the good work. thank you, i like positive reaction. john said to me a real promise zone is where the government doesn't have to pay like the keystone pipeline. so you to sign the law. here is joe from nebraska. i haven't stopped shopping at
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target. i am more cautious and use cash. we love hearing from you. i was stunned to hear the vast majority of americans 74%, believe our economy right now is in recession. i am used to the old definition. three conservative quarter of negative economic growth of the toll of the anemic sub par barely growth there is high. companies haven't reversed hiring policy. i think it's clear many of us are feeling the pain. it's obvious at christmas times when they consumer stayed home. it's obvious that brick and mortar stores where traffic is down. it's time for policy in the country that promote growth not slow it down. move beyond the one-step forward-three-steps back of the obama administration and get this country moving again for everybody. that's my two cents more. and that's it for tonight's willis reported.
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thank you for joining us. don't forget to dvr the show if you can't catch us live. have a great night and we'll see you back here tomorrow. ♪ our top story. the president and his administration caught in a vortex of dysfunction and am bev lens on a host of critical and urgent issues confronting the nation. also tonight, a major obama ally joins the hillary clinton presidential campaign. on the anniversary of the benghazi testimony that might sink her hopes. conservative activist and advocate david joins us with the new citizens united ad commemorating her controversial comments. and a session on wall street today where the dow jones industrial posted a triple digits loss.


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